BATON ROUGE, La. (BRPROUD) — Will insurance rates go up after Hurricane Francine? Overall, Louisiana Insurance Commissioner Tim Temple doesn’t believe they will.
“I think that the primary insurance companies are going to be able to manage this event,” Temple said.
Hurricane Francine is being described as a minimal impact storm for the reinsurance industry, which is the insurance that covers insurance company’s risk management. After Hurricane Ida this industry took a severe hit which led to multiple companies going insolvent in the state. He said his conversations with companies so far show this storm won’t have a major impact on them.
“I haven’t had any conversations with companies that said that they’re having a second guess. I don’t anticipate any companies going insolvent from this storm,” Temple said.
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